Ethereum (ETH) remains under pressure after a sharp pullback, reflecting the broader risk-off tone across the cryptocurrency market. Following the recent decline, ETH is holding just above the $2,100 level, an area that last acted as a meaningful support in June 2025. While bearish momentum has dominated in recent weeks, the current zone represents a technically important area where buyers may attempt to slow the sell-off and reassess positioning.

Ethereum technical analysis

ETHUSD - 1 Week Time Frame

From a technical standpoint, $2,100 serves as the immediate support, with price currently consolidating slightly above it. This level has historical relevance and is now being tested again after several months. A clear loss of this support would expose ETH to the next major downside area near $1,840, which aligns with a broader support zone formed during earlier consolidation phases.

On the upside, the $2,500 level stands out as a key support-resistance (S/R) zone. This area is currently acting as resistance but functioned as a strong barrier in mid-2025, repeatedly capping upward moves. A sustained break above $2,500 would suggest that bearish pressure is easing and that buyers are regaining control, particularly as this zone previously attracted notable buy-side liquidity.

Until such a breakout occurs, price action may remain range-bound between $2,100 and $2,500, reflecting uncertainty and cautious sentiment across the market.

Ethereum price target

In a bearish continuation scenario, failure to hold above $2,100 could see ETH gradually drift lower toward the $1,840 support, where stronger demand may re-emerge. This zone would likely become critical for determining whether the broader structure remains intact or shifts into a deeper corrective phase.

Conversely, a bullish reversal would first require a decisive move above $2,500. If ETH manages to reclaim this level and turn it back into support, buying momentum could build more sustainably. In that case, the next upside target would lie near $3,300, an area associated with previous distribution and strong historical interest.

For now, Ethereum sits at a technically sensitive crossroads, with macro conditions and broader market sentiment likely to dictate whether support holds or a recovery attempt gains traction.